Now is a very exciting time on Marco Island. We've just finished the first half of the year and a very successful season. Many local businesses have told me that they are experiencing a better year than 2010. It seems activity on the island is higher this summer than last. Summer time visitors are enjoying this great lifestyle and I've had a chance to connect with some old friends who came to the island.
Real Estate activity has been strong this year. Through June 30, 2011 there have been 515 closed sales on the island, which is an increase of 17.57% according to the Marco MLS (for Marco Island only- all properties). Pending sales total 432, which is a 23.78% increase from prior year same time frame. Very impressive activity in terms of transactions and much different than what I read about national trends. Yes this is a local business indeed...
The big question people are asking concerns pricing. What is happening with pricing? Well the average selling price for all properties during the same time frame is $540,813.10, which is a 4.39% increase versus prior year. The median selling price is $380,000.00, which is a 1.65% increase over prior. Excellent news for existing property owners and a good head's up for potential buyers.
A serious well qualified buyer who interested in Marco Island should really consider these trends. The recent decline in inventory is impacting selection and pricing. If you or someone you know is in this position and interested in learning more about the market conditions, give me a call or send me an email. I will be happy to assist you and find an outstanding property at the great values we are seeing. The window of opportunity is now!Labels: Cape Marco, Marco Island, Marco Island Real Estate
